![]() Weekly Rounding Bottom to Cup and Handle Failure The definitive beginner’s guide to reading stock charts can be found free on Marketbeat. These programs include virtual sitters for patients at high risk for falls, maternal-fetal monitoring technology that enables earlier interventions when needed in labor and delivery and the current rollout of at-home remote patient monitoring for individuals with chronic health conditions.”Ĭommunity Health Systems analyst ratings and stock price targets are at MarketBeat. He concluded, “Through targeted investments in innovative technologies to improve outcomes, we continue to see positive results in clinical quality and customer experience. This comes from positive reviews and online ratings for its healthcare providers and services, which results in more onboarding of new patients. healthcare systems for online reputation. This helps Community Health to gain a #1 ranking among the top 30 U.S. Healthcare SystemĬommunity Health had a 500 bps improvement in nursing turnover while reducing severe safety events by 87.9% since 2013. The company has access to 1,000 new nurses annually through its partnership with Jersey College School of Nursing. Success with centralized recruitment is being expanded in scope to include all clinical positions. Its new centralized nursing recruitment functions "extremely well" as it attained mid-single-digit gains for high-end nurses sequentially. This includes a 112-bed expansion in its Naples, FL network and a new freestanding ambulatory surgical emergency room in Birmingham, AL. The company invested in its most robust markets in both inpatient and outpatient facilities. Same-store surgeries showed specific strength growing 10.6% YoY, led by orthopedics, cardiovascular, GI, gynecology and urology. Same-store admissions rose 4.8% YoY, and adjusted admissions rose 9.4%. This included payor mix changes and higher fees for medical specialists, partly countered by higher volumes and rising reimbursements from different payors. CEO InsightsĬommunity Health CEO Tim Hingtgen discussed the challenges in the quarter. However, this was offset by more substantial volumes, higher reimbursement rates, and reduced expenses for contract labor. The cause of losses was primarily due to unfavorable changes in the payor mix, higher labor costs and rates for medical specialists and the reduction in pandemic relief funds. This was partially due to the pandemic relief funds that had a positive impact of $47 million in Q1 2022. Net loss was ($51 million) versus ($1 million) in the year-ago period. Adjusted EBITDA totaled $335 million, down from $409 million in the year-ago same period. ![]() Revenues fell 0.1% year-over-year (YoY) to $3.11 billion, beating analyst estimates for $3.9 billion. The Company reported an earnings-per-share (EPS) loss of ($0.43) excluding non-recurring items, versus consensus analyst estimates for a loss of ($0.16), a ($0.21) miss. On March 1, 2023, Community Health reported its fiscal Q1 2023 earnings for the quarter ended March 2023. ![]() ![]() Surgeries saw a 420 bps jump, bringing it back over pre-pandemic levels as emergency department volumes grew 8.7%. It had extinguished $378 million in notes outstanding and expects to retire $645 million of debt in the second half of 2023, capturing a $300 million discount. Post-Pandemic ImprovementsĬommunity Health had some positive developments in the previous quarter. The company is going through a negative normalization as pandemic relief funds have dried up. Its acquisition strategy has grown its goodwill to $4 billion. ![]() The healthcare provider operates 78 hospitals with over 13,000 beds and over 1,000 sites of care, which include doctor's offices, urgent care centers, cancer treatment centers and standalone emergency departments. (NYSE: CYH) is one of the largest for-profit hospital operators in the nation. Hospital and healthcare facilities operator Community Health Systems Inc. ![]()
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